Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<CN Home>S&P Cuts Property Sales Forecast to 10-14% Drop, Projects Home Prices to Sink at Least 2% More
Recommend 26 Positive 46 Negative 16 |
||||
|
||||
|
Rating agency S&P has lowered its forecast for China's real estate sales this year from a decline of 5-8% to 10-14%, citing that the current economic downturn is deeply entrenched, and only the government has the capacity to absorb the excess inventory, as it can purchase more unsold homes to build affordable housing. S&P also estimated China's home prices to slide by 2-4% more this year following last year's drop as a result of the oversupply of new homes. The decline in home prices will likely undermine the confidence of potential buyers, forming a vicious cycle. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
